Key Terms-Checking Account

4. Teller Machine - A machine used to withdraw cash or perform other banking transactions.
6. Account - A bank account shared by two or more people.
7. - A service that prevents overdraft fees by automatically covering shortfalls.
10. - An entry recording an amount paid, increasing the balance.
12. Account - A bank account held by one person.
14. Register - A record of all deposits, withdrawals, and checks written.
16. - To sign the back of a check to approve its transfer.
17. Clearing - The process of moving a check from the bank where it was deposited to the bank on which it was written.
19. Slip - A form used to deposit money into a bank account.
21. - What a check becomes after it’s processed and paid by the bank.

1. - Spending more money than is in the account, leading to a negative balance.
2. Fee - A monthly charge for keeping a bank account open.
3. - The person who writes a check.
5. - An entry recording an amount owed, decreasing the balance.
8. Funds Transfer - Moving money from one account to another digitally.
9. Funds - When there isn't enough money in an account to cover a payment.
10. Account - Where you keep money for everyday transactions.
11. - A written order directing a bank to pay money.
13. - The money earned on savings or paid on loans.
15. Identification Number - A code used to secure access to an ATM or online banking.
18. - When a bank delays access to deposited funds.
19. Deposit - Automatically transferring funds into an account, typically from an employer.
20. - The person or entity receiving the payment.